T.J. Maxx and Marshalls can ‘insulate’ themselves from tariffs because their business model is scooping up other retailers’ unsold inventory

• T.J. Maxx and Marshalls parent company TJX has an advantage over its discount retail rivals, analysts said. TJX is an off-price retailer that sources much of its inventory from other retailers’ unsold products, meaning it doesn’t have to pay tariffs on the bulk of its goods. Moreover, consumers continue to pull back on discretionary goods from other retailers.

Off-price retailers like T.J. Maxx are staying strong amid tariff concerns and economic uncertainty thanks in part...